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China to attract overseas Chinese with more innovation-friendly environment

(Xinhua)

14:51, May 18, 2012

BEIJING, May 17 (Xinhua) -- A senior Communist Party of China (CPC) official on Thursday said the country will create a more "business- and innovation-friendly environment" for the purpose of attracting Chinese nationals with overseas experience to establish businesses in China.

Li Yuanchao, head of the Organization Department of the CPC Central Committee, made the remark at an international recruitment seminar hosted by the committee's Party School.

Li said those who return to China to start businesses have a "Chinese dream" of rejuvenating the nation, adding that "today's China" offers them opportunities to realize their goals.

Li encouraged attendees to engage in scientific research, start high-tech companies and educate world-class scientists and entrepreneurs.

The seminar was held as part of "Plan 1,000," a recruitment program created by the central government in 2008 for the purpose of attracting overseas Chinese to start their own businesses in China.

Overseas Chinese who wish to participate in the program are eligible for a tax-free signing bonus of 1 million yuan (158,098 U.S. dollars) to be used for starting their businesses, as well as favorable policies concerning public services and social welfare.

Over 2,200 qualified overseas Chinese experts were recruited as of the end of 2011.

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